How to Determine the Best-Fit Plan with Supply Chain Optimization

The use of optimization in supply chain management is widespread, just not in supply planning.  Regular use of optimization occurs in inventory management and demand forecasting. “Best-fit straight line” is one of the most common uses of optimization. With this method, you enter or pull into Excel (or your favorite statistics software) a set of “x values” (the independent value e.g. the number of cars in a train) and a set of “y values” (dependent value e.g. the fuel cost for each train), click a few buttons and you get a “best-fit” straight line – a slope (b1), a y-intercept (b0), a measure of goodness, and a straight line drawn through your scatter plot.

By |2019-04-13T23:09:19-04:00November 7th, 2017|Supply Chain Optimization|

Optimization Puzzle: Who’s Guilty? Dormouse, March Hare or Mad Hatter?

In my role as the Director of Analytics, I enjoy working with the Arkieva team and our clients, in building optimization models which help organizations make intelligent decisions with regards to meeting demand, capacity allocation, inventory levels, factory schedules, forecasting, and cancer research. These models are built using a variety of mathematical methods including Boolean

By |2019-04-13T23:09:21-04:00August 16th, 2017|Supply Chain Optimization|

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